Masonry Four-Unit
For Sale
$799,700
100 Chestnut Street, Central Falls, RI 02863
Masonry construction and garage space complement this four-unit residential income property.
Property Size3,244 SF
Price / SF$246.52
Days on Market11
Property Features for 100 Chestnut Street
General Information
Standard status
Active
Size
3,244 SF
Property subtype
Multifamily
Building Details
Year Built
1900
Listing Agency:
RI Real Estate Services
(401) 885-5400
Listed By:
Filomena ALTIERI · License #8195
Source:
Lockandkeyre
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 23 at 7:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RI Real Estate Services
Investment Insights
Based on property information with market context.
This four-unit quadplex in Central Falls, Rhode Island, was built in 1900 and has a masonry exterior. The property contains 3,244 square feet and sits on a lot of approximately 10,000 square feet.
A five-car garage is included on the property, providing substantial accessory space alongside the residential units. The existing occupancy is described as long-term rentals, with rental income characterized as low. The property is located at 100 Chestnut Street, with access to local conveniences in the surrounding area.
A five-car garage is included on the property, providing substantial accessory space alongside the residential units. The existing occupancy is described as long-term rentals, with rental income characterized as low. The property is located at 100 Chestnut Street, with access to local conveniences in the surrounding area.
Key Highlights
- Four‑unit quadplex with masonry exterior
- 3,244‑square‑foot property built in 1900
- Lot measuring close to 10,000 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,014
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,080,280
$1.1M
Cap Rate 7%
$771,629
$771.6K
Cap Rate 9%
$600,156
$600.2K
Market Conditions
NOI Build-Up for 3,244 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.5K $25.44/SF
− Vacancy
−$5.4K −$1.65/SF
EGI
$77.2K $23.79/SF
− OpEx
−$23.1K −$7.14/SF
NOI
$54.0K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,080,280
Cap Rate 7%
$771,629
Cap Rate 9%
$600,156
Alternative Uses
Best Use
Multifamily LT 5
$771.6K
$675.2K – $900.2K
NOI $54,014 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$612.4K
$535.9K – $714.5K
NOI $42,868 @ 7.0% cap · market cap 5.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Masonry construction and garage space complement this four-unit residential income property.
Where is this quadplex located?
The property is located at 100 Chestnut Street Central Falls, RI.
What is the asking price?
The asking price for this property is $799,700.
What are key features of this property?
This property features: Four‑unit quadplex with masonry exterior; 3,244‑square‑foot property built in 1900; Lot measuring close to 10,000 sq ft
